Miami stands as one of the most dynamic and valuable real estate markets in the United States. While not yet reaching the trillion-dollar mark, Miami‘s total real estate value, including both residential and commercial properties, was estimated at approximately $650 billion as of 2023, according to the Miami Association of Realtors. This places Miami among the top-tier real estate markets in the country, attracting both local and international buyers and driving intense competition among real estate agents.
As of Sept. 4, 2024, Altos Research reports that the city of Miami had 1,861 active listings for houses and 3,563 active listings for condos. Given this inventory and Miami’s status as a premier destination for luxury real estate, top-performing agents remain dominant in the market, handling a significant share of the transaction volume.
According to RealTrends Verified analysis, breaking into Miami’s top 50 real estate agents requires more than $16 million in annual sales, while breaking into the top 75 calls for a minimum of $5 million in sales. This only underscores the level of performance required to thrive in Miami’s market.
RealTrends Verified City Rankings highlight the highest-performing agents in Miami and other key markets across the U.S. Leading agents such as Mariana Niro of Serhant, Liz Hogan of Compass, and Lesli Burkhead of The Keyes Company are at the forefront of the Miami market. Each closed over 50 transaction sides in 2023. Niro currently leads the Miami rankings with 61 transaction sides.
Niro’s 61 transactions equate to approximately $81.5 million in 2023 volume, positioning her among the top 50 agents in Florida.
The current Miami RealTrends Verified City Ranking is open for nominations and data submissions until Sept. 13, 2024, with the final Miami rankings set to be released in Q4.
View Miami’s RealTrends Verified listings.
RealTrends Verified is accessible through RealTrends.com and HousingWire.com, attracting significant search traffic from homebuyers and sellers seeking top agents, teams and brokerages at the city, state and national levels. These national and city rankings help in the selection and hiring of agents for buyers and sellers, as well as to showcase performance and market expertise for business partnerships and referrals.
ZIP code spotlight – 33109
While the median listing price in Miami is $850,000, according to Altos Research, one ZIP code stands out: 33109, which covers Fisher Island. This exclusive enclave boasts a median home value of over $10,350,000, making it one of the most expensive ZIP codes in the United States.
In this luxury market, top teams like The Jills Zeder Group of Coldwell Banker Realty lead the way, consistently handling transactions of the area’s most exclusive properties. In 2023 they totaled $1,237,333,276 in total volume. The limited inventory and high demand in this ZIP code contribute to its considerable property values.
Miami’s real estate landscape is as diverse and lively as the city itself, constantly shifting to meet new demands. From the recent wave of tech companies to the ongoing appeal of beachfront properties, a unique set of challenges and opportunities await any agent willing to tackle them. Staying in front of buyers and sellers looking to capitalize on one of the hottest markets in the country is not just advisable — it’s essential for anyone looking to make their mark in the Miami real estate scene.
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